Meta Attracts Big Bullish Bets From Options Traders After Strong Q2 Earnings

Meta Platforms, Inc. META shares surged on Thursday after the company reported better-than-expected second-quarter financial results.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Meta traded 2.5x its average daily options volume, with calls significantly outpacing puts on Thursday. Meta was the second-busiest stock option after Tesla during the session.

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There were buyers of 60,500 of the July 28 weekly 325-calls at an average price of around $1.88 per contract, Khouw mentioned.

Traders expect Meta’s stock to move higher into Friday’s close.

Meta Platforms reported second-quarter revenue of $32 billion, which was up 11% year-over-year. The revenue total came in ahead of a Street consensus estimate of $31.12 billion. Earnings per share totaled $2.98 in the second quarter, beating a Street consensus estimate of $2.91.

Price Action: Meta shares gained 4.4% to close at $311.71 on Thursday, and added 1.2% in Friday’s premarket trading session.

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